Boston Trust Walden Corp Trims Stock Position in Corcept Therapeutics Incorporated $CORT

Boston Trust Walden Corp decreased its stake in Corcept Therapeutics Incorporated (NASDAQ:CORT) by 1.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 562,261 shares of the biotechnology company’s stock after selling 9,811 shares during the quarter. Boston Trust Walden Corp owned approximately 0.53% of Corcept Therapeutics worth $46,730,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CORT. Pacer Advisors Inc. increased its position in shares of Corcept Therapeutics by 6,796.7% in the third quarter. Pacer Advisors Inc. now owns 390,559 shares of the biotechnology company’s stock valued at $32,459,000 after buying an additional 384,896 shares in the last quarter. Cerity Partners LLC grew its stake in Corcept Therapeutics by 21.4% in the 2nd quarter. Cerity Partners LLC now owns 746,593 shares of the biotechnology company’s stock valued at $54,800,000 after acquiring an additional 131,799 shares during the period. Ellsworth Advisors LLC purchased a new stake in Corcept Therapeutics in the 3rd quarter worth $769,000. Castleark Management LLC acquired a new position in Corcept Therapeutics during the second quarter worth $2,711,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Corcept Therapeutics by 883.0% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,660 shares of the biotechnology company’s stock valued at $1,443,000 after purchasing an additional 17,660 shares in the last quarter. 93.61% of the stock is owned by institutional investors and hedge funds.

Corcept Therapeutics Price Performance

NASDAQ:CORT opened at $79.82 on Tuesday. Corcept Therapeutics Incorporated has a one year low of $49.00 and a one year high of $117.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.07 and a current ratio of 3.14. The stock has a market cap of $8.40 billion, a PE ratio of 90.71 and a beta of 0.20. The stock has a 50 day moving average price of $78.78 and a 200 day moving average price of $75.58.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Corcept Therapeutics had a return on equity of 15.99% and a net margin of 14.19%.The company had revenue of $207.64 million for the quarter, compared to analyst estimates of $223.78 million. During the same period last year, the firm posted $0.41 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. Equities research analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CORT shares. Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a research report on Monday, December 22nd. Zacks Research upgraded Corcept Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Canaccord Genuity Group restated a “buy” rating and issued a $140.00 target price on shares of Corcept Therapeutics in a research report on Thursday, September 25th. Wolfe Research initiated coverage on Corcept Therapeutics in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Finally, Wall Street Zen downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corcept Therapeutics has an average rating of “Moderate Buy” and an average target price of $127.20.

Insider Activity

In other news, insider William Guyer sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $80.08, for a total value of $1,601,600.00. Following the completion of the sale, the insider owned 1,235 shares of the company’s stock, valued at $98,898.80. This represents a 94.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sean Maduck sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $79.52, for a total transaction of $1,590,400.00. Following the sale, the insider owned 7,904 shares of the company’s stock, valued at $628,526.08. This represents a 71.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 261,700 shares of company stock worth $21,002,348. Company insiders own 20.50% of the company’s stock.

About Corcept Therapeutics

Corcept Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing drugs that modulate the effects of cortisol, a hormone implicated in a range of severe metabolic, oncologic and psychiatric disorders. The company’s scientific platform centers on selectively targeting the glucocorticoid receptor to counteract the harmful consequences of excess cortisol, a strategy designed to address diseases with significant unmet medical needs.

The company’s flagship marketed product, Korlym (mifepristone), is approved in the United States for the treatment of hyperglycemia secondary to Cushing’s syndrome in patients who have type 2 diabetes or glucose intolerance and are not candidates for surgery.